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10 business establishments ordered closed in Boracay island

THE Department of Environment and Natural Resources (DENR) on Tuesday ordered the closure of 10 foreign-owned business establishments for operating in Boracay island without government permits.

Program to expand corn and sorghum planting may cost P2B

THE Department of Agriculture (DA) said it is seeking an additional P2 billion to fund the expansion of corn and sorghum production to help develop the livestock industry, which is heavily dependent on feed imports, in anticipation of a surge in meat consumption.

DA urges naming of vinegar brands using synthetic raw material

THE Department of Agriculture (DA) has urged the Food and Drug Administration (FDA) to release the list of vinegar brands that use synthetic acetic acid.

NFA restructuring to eliminate at least 839 jobs; new cuts possible

THE Department of Agriculture (DA) said it expects at least 839 employees to be affected on the restructuring of the National Food Authority (NFA).

PhilMech launches RCEF backed rice modernization

THE Philippine Center for Postharvest Development and Mechanization (PHilMech) said it formally launched a rice industry mechanization program backed by the Rice Competitiveness Enhancement Fund (RCEF).

Layer chicken industry leads growth in livestock sector in first quarter

THE Philippine Statistics Authority (PSA) said on Tuesday that most subcategories of the livestock sector reported increased production in the first quarter, led by the egg-laying poultry segment.

Manila’s most expensive condo costs P550,000 per square meter

A LUXURY condominium project is now pre-selling at a whopping P550,000 per square meter (sq.m.), making it the most expensive in Metro Manila, according to Colliers International.

Horizon Land fast tracks projects

FEDERAL LAND, Inc. is fast-tracking developments under its main brand Horizon Land in Pasay, Manila and Cavite, amid continued strong demand for homes.

DMWAI tops off Pixel Residences

A SUBSIDIARY of D.M. Wenceslao & Associates, Inc. (DMWAI) recently topped off its first residential condominium development in Aseana City, Parañaque City.

Palay price rises 0.3% at farmgate amid drop in first quarter...

THE AVERAGE farmgate price of palay, or unmilled rice, rose 0.3% during the first week of May to P18.45 per kilogram (kg), the Philippine Statistics Authority (PSA) said.

Fertilizer prices rise in April — PSA

THE average price of four grades of fertilizer increased year-on-year in April, the Philippine Statistics Authority (PSA) said.

Why social enterprises need to be nurtured

IN boosting social enterprises, the project is contributing to the country’ attainment of the Sustainable Development Goals. It is co-implemented by the United Nations Development Program (UNDP), the Philippine Development Foundation (PhilDev), and the Australian embassy in the Philippines.

Property developers post higher profits as rental revenues rise

PROPERTY companies reported higher profits for the first three months of 2019, driven by sustained sales of residential condominiums and higher rental income.

Strong sales drive CLI earnings higher

CEBU Landmasters, Inc. (CLI) reported a 23% increase in its net income attributable to parent during the first three months of 2019, on sustained sales of its projects in Cebu.

foodpanda targeting further expansion in the Philippines

FOOD DELIVERY company Foodpanda Group (stylized as foodpanda) is gearing up for expansion in the Philippines as it celebrates its fifth anniversary in the country.

SSI income jumps 28% on sales of luxury brands

EARNINGS of SSI Group, Inc. increased by 28% in the first quarter, driven by “healthy” consumer demand and strong same-store sales growth.

8990 profit jumps 17% in January-March

8990 HOLDINGS, Inc. booked a 17% increase in net income in the first quarter of 2019, driven by sales of its housing projects in the National Capital Region (NCR), Iloilo, and South Luzon.

Global-Estate Resorts grows income by 41%

GLOBAL-ESTATE Resorts, Inc. (GERI) reported a 41% growth in its net income attributable to parent during the first quarter of 2019 driven by higher rental income and hotel operations, and sustained sales of its residential projects.

Palay output falls 4.6% in Q1 to 4.69 million MT

PRODUCTION of palay, or unmilled rice, fell 4.6% year-on-year in the first three months of 2019 to 4.69 million metric tons, the Philippine Statistics Authority (PSA) said.

UN agency IFAD to provide $62.9 M loan for poverty-reduction

THE International Fund for Agricultural Development (IFAD) has signed a financing agreement with the Philippines supporting a poverty-reduction and income-raising program covering 20 of the poorest provinces in Mindanao and the Eastern Visayas.

Swiss-Belhotel looks to expand in PHL provinces

GLOBAL hospitality management chain Swiss-Belhotel International (SBI) is aggressively expanding in the Philippines, eyeing to manage six to eight properties in regional cities.

DMWAI Q1 earnings up 9%

D.M. WENCESLAO & Associates, Inc. (DMWAI) grew its earnings by 9% in the first quarter, thanks to strong revenues from its office leasing business.

PHL rice imports seen dropping on strong inventories, production

THE PHILIPPINES is expected to reduce its rice imports due to ample inventories and increased production forecast for 2019/2020, the US Department of Agriculture (USDA) said.

Developer CPG posts 36% higher profit in Q1

CENTURY Properties Group, Inc. (CPG) saw its earnings grow by 36% in the first quarter, on higher real estate sales and leasing revenues.

NCR office growth seen at 1 million sq.m. per year

THE METRO MANILA office sector’s capacity is expected to grow by 1 million square meters a year between 2019 and 2021, with demand for such space driven by the speed of the Philippine Economic Zone Authority’s (PEZA) investment application approvals for incentives, Colliers International said.

PHL seen as preferred destination for Chinese investment — Santos Knight...

THE Philippines has become a preferred destination for Chinese investors, according to the new report released by real estate advisory firm Santos Knight Frank.

DENR orders closure of Limay dumpsite

THE DEPARTMENT of Environment and Natural Resources (DENR) has issued a cease and desist order (CDO) against the municipal government of Limay, Bataan for the operation of an open dumpsite in Barangay San Francisco de Asis I.

Farm output nearly flat in Q1

A NEARLY FLAT farm output marked the first quarter, slowing from a small increment a year ago, the Philippine Statistics Authority (PSA) said on Thursday a day ahead of its gross domestic product (GDP) report for the same period, noting that increases in livestock, poultry and fisheries output narrowly offset a drop in crops that accounted for half of total value of production.

Philex Mining income falls 32% in 1st quarter as metal production...

PHILEX Mining Corp. saw a 32% drop in its net income to P206.498 million in the first three months of 2019, dragged by weaker metal production arising from declining ore grades.

Diversified crop program targets conversion of 1-M hectares planted to coconut

AT LEAST 1 million hectares of land devoted solely to coconut cultivation will be targeted for conversion to diversified crop production sites, aided by advanced irrigation techniques, the Department of Agriculture (DA) said.

Nickel Asia income slides 68% in 1st quarter

NICKEL ASIA Corp. (NAC) reported a 68% decrease in attributable net income for the first quarter, as the peso strengthened against the US dollar.

Bangsamoro touted as major source of agricultural growth — DA

THE Department of Agriculture (DA) said it is expecting the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) to be a major food producer for the Philippines in five years.

Farmer-beneficiaries to be given a say in project procurement

THE Department of Agriculture said it plans to give farmer-beneficiaries a seat on the bids and awards committees of projects intended to benefit their communities to give them a say in the procurement process.

Metro Manila office supply rises; Taguig still has highest rent rates

METRO MANILA’S supply of Prime and Grade A office space grew by about 170,000 square meters (sq.m.) in the first quarter of the year, with more than half located in Makati City, commercial real estate services company Cushman & Wakefield Philippines said.

State-of-the-art damper system at The Seasons

AFTER the recent earthquake in various parts of the country, there has been renewed focus on whether or not buildings can withstand the so-called “Big One.”

NFA palay procurement tops three million bags

THE NATIONAL Food Authority (NFA) said Monday that its purchases of palay, or unmilled rice, breached the 3-million-bag mark, bringing total procurement to 3.073 million bags in the four months to April, when its mandate shifted to buying solely from domestic farmers.

Palay prices remain under pressure in mid-April

THE farmgate price of palay, or unmilled rice, continued to decline during the middle weeks of April, with domestic prices still under pressure amid expectations of more liberal imports of cheap rice, even as the government concentrates all its procurement efforts on domestic rice.

PhilRealty profit jumps 48% in 2018

PHILIPPINE Realty & Holdings Corp. reported its net income grew by 48% in 2018, on strong sales of its projects in Quezon City and Bonifacio Global City, as well as higher valuation of its assets.

Dispute breaks out over RCEF funding as DA insists on P10B

THE Department of Agriculture (DA) has signaled that it will claim the full amount of P10 billion once tariffs start generating funding for the Rice Competitiveness Enhancement Fund (RCEF), arguing that a P5 billion advance provided in 2018 was meant for other rice projects.

Solar irrigation rollout targeted for early 2020

THE Department of Agriculture (DA) and various other agencies have agreed to fast-track the Solar-Powered Irrigation project so the network will be largely in place by the next El Niño.

Piñol says pork imports cannot be restricted amid calls for protection

THE Department of Agriculture (DA) said pork is a deregulated commodity which businesses are free to import, amid complaints from domestic producers about oversupply and the resulting tight supply conditions for cold storage.

Zoho’s Commerce Plus platform to help small businesses in branding

ZOHO CORP. has launched a software that could help small businesses develop their own branding while easing tasks.

Hotel aims to take advantage of booming tourism in Palawan

CELEBRATING its 20th anniversary, Legend Hotel International Corp.’s (LHIC) Puerto Princesa hotel is targeting to take advantage of the booming tourism industry in Palawan.

KMC secures investment to drive expansion

FLEXIBLE working space provider KMC Solutions said it has recently secured an investment from ASEAN Industrial Growth Fund (AIGF) which will help fuel its expansion activities in the Philippines.

Greenfield launches 2nd Zadia tower

GREENFIELD Development Corp.’s subsidiary recently launched the second tower of its Zadia residential project in Sta. Rosa, Laguna.